The cell and gene therapy manufacturing market size is estimated for US$ 3,755.4 million in 2022 to reach an estimate of USD 13,603.4 million by 2032, at a 16.25% CAGR between 2023 and 2032.
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Considering its potential to treat cancer, cell and gene therapy has sparked a lot of interest. With a complicated and expanding sector, a Contract Development and Manufacturing Company (CDMO) may assist customers in smoothing commercial cell and gene therapy manufacturing needs.
In August 2022, Cytiva, a subsidiary of Danaher Corporation, and Forecyte Bio, a provider of CDMO service designed for cell gene therapy, collaborated to accelerate the development and manufacturing of cell and gene therapies in China and the U.S. Forecyte Bio will use Cytiva’s Flex Factory platform to launch its contract development and manufacturing organization (CDMO) business.
Survey Shows Growing Optimism in Cell and Gene Therapy Industry:
A recent survey on the cell and gene therapy (CGT) industry reveals that while CGT innovators and healthcare providers have had a positive view of the sector over the past 12–18 months (86% and 83%, respectively), contract development and manufacturing organizations (CDMOs) were less optimistic (66%). Looking forward, optimism increases across all groups for the next 12–18 months, with CGT innovators (93%), healthcare providers (86%), and CDMOs (83%) expecting positive developments. Gene therapies are anticipated to have a more favorable outlook compared to autologous and allogeneic cell therapies.
Cell And Gene Therapy Manufacturing Market Top Companies
- Bluebird Bio Inc.
- Hitachi Chemical Co., Ltd.
- Takara Bio Inc.
- Catalent Inc.
- F. Hoffmann-La Roche Ltd.
- Samsung Biologics
- Novartis AG
- Lonza
- Merck KGaA
- Wuxi Advanced Therapies
- Boehringer Ingelheim
- Cellular Therapeutics
- Miltenyi Biotec
- Thermo Fisher Scientific
- F. Hoffmann-La Roche Ltd
- Bluebird Bio Inc.
Ill effects of COVID-19 on the Cell and Gene Therapy Manufacturing Market
Due to the COVID-19 pandemic, players in the worldwide cell therapy manufacturing industry are experiencing significant hurdles on several fronts. The key obstacles are raw material availability owing to transportation facility inconsistencies. Furthermore, because of the increased prevalence of COVID -19, distributors are experiencing unpredictable demand for products from merchants. However, there has been a modest positive influence on the market since cell therapies for the treatment of COVID-19 are being researched.
According to a Springer Nature article, mesenchymal cells (MSCs) are now being explored as one of the therapeutic strategies for COVID-19 illness. Researchers utilize immunosuppressive medications (Tocilizumab) to treat COVID-19 symptoms in patients; these cells can greatly improve critical circumstances due to their mode of action.
Influencers Fueling the Current Market Scenario
Key Players are involved in developing and launching various types of technologies for cell therapy manufacturing, which is expected to provide immense growth opportunities for industry players in the cell therapy manufacturing market. Manufacturers of cell therapy product candidates are engaged in receiving regulatory approvals to enhance their cell therapy manufacturing process, which in turn is expected to drive the cell therapy manufacturing market growth
Hurdles Faced During Market Growth
One of the most significant issues is the high cost of cell treatments, which has financial consequences for patients, payers, and providers. As a result, firms must lower their pricing in order to increase the acceptance of these medicines, which is projected to hamper market growth throughout the forecast period.
Open Doors for the Cell and Gene Therapy Manufacturing Market
Soon, the cell therapy manufacturing market is likely to rise due to increased investment by major companies in the development of improved cell treatments.
For instance,
- In January 2022, Cellino Biotech, Inc., an autonomous cell therapy manufacturing company, announced the completion of a Series A financing of US$ 80 million, led by the impact investment arm of Bayer AG —Leaps by Bayer— 8VC, and Humboldt Fund. New investors in the round include Felicis Ventures and others, joining existing investors The Engine and Khosla Ventures. The company has raised a total of US$ 96 million in gross proceeds from private financings.
Scrutinize more: https://www.healthcarewebwire.com/non-oncology-precision-medicine-market/
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